HOW TO GROW YOUR SUPERMARKET BUSINESS?
INDEX 1.
Digital Marketing
2.
Value-Added Services
3.
Rebranding
4.
Standard Operating Procedures (SOPs)
5.
Inventory Management
6.
Summary
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DIGITAL MARKETING
Digital marketing can be cost-effective as well as a wider range of audiences can be reached by doing it
Digital marketing is the first sign going digital for supermarkets.
Once businesses experience some success with digital marketing, it is easy to consider taking the business digital
Good supermarket digital marketing strategy should take into account two factors search engines and social media
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VALUE-ADDED SERVICES
A successful example of VAS was the caller tune services when it was first launched and customers were willing to pay a premium price for it
For supermarket brands, value-added services such as home deliveries could provide them a big differentiating factor
Smaller supermarkets can offer free home delivery for predefined order value or a radius of distance
The policy should be fair, economical, and not complicated.
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REBRANDING
Rebranding is often used as a marketing strategy to leave a positive perceptive impact on customers
Customers may get used to seeing the same visuals of a supermarket which they visit frequently but rebranding will catch their attention
Rebranding can involve experimenting with the brand logo, font and colors used, tagline, the theme of the store, etc
small positive perceptive change via rebranding can positively influence customers
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STANDARD OPERATING PROCEDURES (SOPS)
Internal operations of any business should always be robust
A grandly promoted ‘home delivery service’ will work only if the operations systems are created to make the service possible
SOPs are required at the operational level for all the departments of a supermarket business
The services of expert SOP consultants can also be hired to map the various processes and procedures.
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INVENTORY MANAGEMENT
Inventory management is one of the biggest concerns for supermarkets all over the world
This aspect should be planned and executed to prevent inventory losses
Inventory management can make the inventory system more effective and efficient
There should be re-order levels for each product in the supermarket
These re-orders levels must be carefully decided based on demand forecasting, internal order processing time, delivery time, etc
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SUMMARY
With growing competition in the supermarket business, growth and expansion have also become proportionately difficult
Planning a supermarket expansion project now entails a multi-dimensional approach.
Digital marketing strategies, Re-branding and Value added services can attract more audience and will increase footfall at the store
SOP’s & Inventory management will result in smooth operations and systematic approach towards different factors
https://www.yourretailcoach.in/how-to-grow-your-supermarket-business/
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